Every Canadian deserves a safe and affordable place to call home. That is why, in May 2018, the Government launched the National Housing Co-Investment Fund (NHCF), the largest program of its kind in Canadian history.
Today in Toronto, Julie Dabrusin, Member of Parliament for Toronto — Danforth, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced a federal government financial commitment of over $7.9 million for the construction of 35 units on Gerrard Street East.
Thanks to this commitment by the NHCF, a pillar initiative of the National Housing Strategy (NHS), and to the investments of other partners, notably the City of Toronto, this project by WoodGreen Community Services will provide affordable homes to at least 35 seniors.
WoodGreen Community Services has over 40 years of experience in building, owning and operating affordable housing. Currently, they own and operate 12 buildings, 811 units with more than 1000 tenants across Toronto’s East End.
“Our Government believes that every Canadian should be able to retire in dignity. We are working to improve the lives of seniors by returning the age of eligibility for Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) to 65, and increasing the GIS for single seniors. We also recognize that there is a need for dedicated housing for seniors right here in Toronto, and are extremely happy to be supporting this wonderful project through the National Housing Strategy and an incredible local partner, WoodGreen.”
“As a major provider of affordable housing in Toronto, WoodGreen welcomes this important investment by the National Housing Co-Investment Fund. The cost of rental housing in Toronto is becoming increasingly unmanageable for many people, and in particular, for low-income seniors. This new development will add much-needed units to Toronto’s stock, and ensure that more seniors have a safe, affordable place to call home while seamlessly accessing the full basket of critical support services WoodGreen provides.”
“The City is pleased to partner with the federal government in the delivery of the National Housing Strategy in Toronto. I'd like to congratulate WoodGreen Community Services for receiving funding through the National Housing Co-Investment Fund and their commitment to creating much needed affordable rental housing for our senior residents at 1117 Gerrard St. East starting in 2020.”
- With it’s new building, WoodGreen Community Services aims to achieve energy savings of 28.3% and a reduction in greenhouse gas emissions of 30% compared to the NECB 2015.
- Eight units will be fully accessible.
- All 35 units will be affordable and will have a rent representing 71% of the median market rent.
- With a budget of $13.2 billion, NHCF gives priority to projects that help those in greatest need, including women and children fleeing family violence, seniors, Indigenous peoples, people with disabilities, those dealing with mental health and addictions, Veterans and young adults.
- Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes over the next 10 years.
- Investments are also planned in the NHCF to create or repair at least 4,000 shelter spaces for victims of family violence and create at least 7,000 new affordable housing units for seniors and 2,400 new affordable housing units for people with developmental disabilities.
- Under the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada's rural and northern communities.
As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. For more information, follow us on Twitter, YouTube, LinkedIn, Instagram and Facebook.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
Information on this release:
Office of the Minister of Families, Children and Social Development
Canada Mortgage and Housing Corporation